A few weeks ago I reprinted a BNA article by Laura Mahoney discussing the appeal of Dicon v. FTB.   Mahoney contacted me today to alert me to a correction published in relation to that article:

A report on the Oct. 23 appeal of California court decision (Dicon Fiberoptics Inc. v. Franchise Tax Board, Cal. Ct. App., No. B202997), in 211 DTR K-2, 11/1/07, incorrectly stated the amount of credit denials or additional assessments the California Franchise Tax Board is expecting to issue in the process of auditing about 500 taxpayers who have claimed enterprise zone hiring credits. FTB estimated the total to be about $130 million, not $1 billion. As of Dec. 5, FTB estimated the total amount of credit denials and overstatements to be about $60 million, in light of a recent decision striking down the agency’s position that some credits involving economically disadvantaged employees were not allowable. The online version has been corrected.

Mahoney further informed me that the overwhelming majority of that adjustment was due to a math error and not the BOE decision in the Jessica McClintock case.